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Hi, i would like to seek advice to my current situation. I have been married for 6 months and we are living with my parents. 2 yrs ago my parents and i got a new BTO flat in Yishun before i got married. My mum is the Sole owner of the flat followed by my dad (2nd owner) and during that time, I decided to put my name as the 3rd owner. I didn’t forsee myself getting married at that point of time so the reason is to help contribute to pay for the house. My mum had a downpayment for this house and every month i have been paying the monthly payment using cash + cpf. Now, me and my wife decided to have our own house but due to my current situation of having my name and contributing the payment for this house, it’s hard for us to get the house for our own. I have some thoughts of removing my name from this house and maybe convince my parents to downgrade the current house or a get rental house that is within their mean. Not sure if it can downgrade before 5 years. Need help on this!
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2 Answers

Robbie Chen Chee Howe
Hi,

Based on the above scenario, you had not met the 5-year MOP of the Yishun flat, and will not be able to sell it off in the open market. You could however appeal to remove your name from the HDB flat, so that you can purchase another flat with your wife.

Alternatively, depending on the age and income of your wife, she may also get a private property under her sole name without incurring ABSD.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi Sir,

You may either appeal to HDB branch office to have your name removed from the house or to appeal to HDB to allow you to sell off the flat early. However, do note that removing your name will require your parents to top up the CPF and funds that you have contributed to the flat to date.

I have assisted clients in a similar situation before. Please feel free to contact me so that I can understand your situation better and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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